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List of countries by proven oil reserves

Proven oil reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence, to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions.

Map of countries with proven oil reserves - according to U.S. EIA (start of 2017)
Trends in proven oil reserves in top five countries, 1980–2013 (data from US Energy Information Administration)
A map of world oil reserves according to OPEC, January 2014

Some statistics on this page are disputed and controversial—different sources (OPEC, CIA World Factbook, oil companies) give different figures. Some of the differences reflect different types of oil included. Different estimates may or may not include oil shale, mined oil sands or natural gas liquids.

Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to be economically viable. Similarly, Venezuela's proven reserves jumped in the late 2000s when the heavy oil of the Orinoco Belt was judged economic.

Sources

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Sources sometimes differ on the volume of proven oil reserves. The differences sometimes result from different classes of oil included, and sometimes result from different definitions of proven. (The data below does not seem to include shale oil and other "unconventional" sources of oil such as tar sands. For instance, North America has over 3 trillion barrels of shale oil reserves,[citation needed] and the majority of oil produced in the USA is from shale, leading to the paradoxical data below that the USA will finish all its oil at current production in 11 years, because the production is mostly from shale but the reserves cited omit all shale reserves.)

Comparison of proven oil reserves from some widely used sources (billions of barrels, as of 31 Dec 2014)

Source Canada Iran Iraq Russia Saudi Arabia United States Venezuela
BP[1] 172.9 157.8 143 103.2 267.0 48.5 298.3
OPEC[2] 4.2 157.5 147.2 80.0 266.6 36.5 300.0
US CIA[3] 171.0 157.8 147 103.2 268.3 36.5 298.4
US EIA[4] 172.5 157.8 145 80.0 268.3 39.9 298.4

Countries

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Reserves amounts are listed in millions of barrels. .00

Proven reserves (millions of barrels)
Country US EIA
[5]
OPEC
[6]
BP
[7]
Others Oil production
December 2023 (bbl/day)[8]
Years of
production
in reserve
  Venezuela *(OPEC) 304,000 303,220 303,800 770,000 1,000
  Saudi Arabia *(OPEC) 259,000.00 266,260 297,600 8,950,000 65.4
  Iran *(OPEC) 209,000.00 [9] 208,600 155,600 4,084,000 163
  Canada * 170,000.00 4,421 172,200 [10] 171,000 4,971,000 82
  Iraq *(OPEC) 145,000.00 147,223 145,000 4,375,000 94.8
  Kuwait *(OPEC) 102,000.00 104,000 104,000 2,644,000 103
  United Arab Emirates *(OPEC) 98,000.00 113,000 111,000 3,300,000 74
  Russia * 80,000 99,000 107,800 10,126,000 20
  Libya *(OPEC) 48,000.00 74,363 78,400 1,248,000 110
  United States * 48,300[11].00 32,773 68,800 [12] 43,629 13,295,000 6.3
  Nigeria *(OPEC) 37,000.00 37,453 37,100 1,573,000 60
  Kazakhstan * 30,000.00 30,000 30,000 1,897,000 40
  China * 26,000.00 27,000 26,000 4,172,000 16
  Qatar * 25,000.00 25,244 25,244 1,322,000 38
  Brazil * 13,000.00 12,634 13,000 [13]16,848 3,585,000 12
  Algeria *(OPEC) 12,000.00 12,200 12,200 1,160,000 24
  Guyana * 11,000.00 11,000[14] 555,000 200
  Namibia * 11,000[15][16]
  Ecuador 8,300.00 8,273 8,000 486,000 48
  Norway * 8,100.00 6,376 8,500 1,894,000 11
  Angola * 7,800.00 8,384 12,700 1,235,000 18
  Azerbaijan * 7,000.00 7,000 7,000 601,000 30
  Suriname 06,500[17] 13,000 1,300
  Mexico * 5,800.00 6,537 10,800 [18] 9.700 1,903,000 8.1
  Oman * 5,400.00 5,373 5,300 1,040,000 15
  India * 4,600.00 4,495 5,680 [12] 4,409 589,000 14
  Vietnam * 4,400.00 4,400 4,000 165,000 59
  South Sudan 3,800.00 160,000 68
  Malaysia * 3,600.00 3,600 3,600 [12] 5,542 525,000 19
  Egypt * 3,300.00 4,400 3,500 559,000 15
  Yemen * 3,000.00 3,000 15,000 100
  Congo(OPEC) 2,900.00 1,811 2,900 253,000 29
  United Kingdom * 2,500.00 2,069 2,800 2,618 647,000 7.4
  Syria * 2,500.00 2,500 2,500 95,000 160
  Uganda * 2,500.00
  Argentina * 2,500.00 2,162 2,400 [19]16,000 677,000 9.8
  Indonesia * 2,500.00 3,310 3,600 3,497 605,000 8.0
  Australia * 2,400.00 3,985 4,000 4,002 395,000 26
  Colombia * 2,000.00 1,665 2,300 787,000 7
  Gabon *(OPEC) 2,000.00 2,000 2,000 220,000 30
  Chad * 1,500.00 1,500 126,000 43
  Turkey * 1,400.00 1350 89,000 10
  Sudan * 1,300.00 5,000 1,500 71,000 56
  Brunei * 1,100.00 1,100 1,100 100,000 32
  Equatorial Guinea *(OPEC) 1,100.00 1,100 1,100 79,000 21
  Peru * 900.00 1,400 [12] 1,489 44,000 20
  Kenya * .00 750
  Ghana * 700.00 175,000 10
  Romania * 600.00 600 57,000 20
  Turkmenistan * 600.00 600 600 191,000 7
  Uzbekistan * 600.00 594 600 32,000 40
  Pakistan * 500.00 [12] 236 83,000 10
  Italy * 500.00 600 [12] 595 119,000 9
  Denmark * 400.00 439 600 [12] 550 58,000 20
  Tunisia * 400.00 400 33,000 30
  Ukraine * 400.00 395 20
  Thailand * 300.00 400 136,000 2
  Trinidad and Tobago * 200.00 700 [12] 830 54,000 7
  Bolivia * 200.00 [12] 210 22,000 8
  Cameroon * 200.00 49,000 8
  Belarus * 200.00 198 29,000 20
  Bahrain * 200.00 167,000 3
  DR Congo 200.00 19,000 30
  Papua New Guinea * 200.00 [12] 158 31,000 10
  Albania * 200.00 14,000 30
  Chile * 200.00 2,300 30
  Niger * 200.00 6,000 40
  Spain * 200.00 100 7
  Myanmar * 100.00 7,100 30
  Philippines 100.00 900 20
  Netherlands 100.00 [12] 141 28,000 4
  Cuba * 100.00 [12] 124 30,000 7
  Germany * 100.00 [12] 229 32,000 2
  Poland * 100.00 [12] 151 18,000 7
  Ivory Coast * 100.00 29,000 9
  Guatemala 860 6,000 20
  Serbia * 770 13,000 12
  Croatia * 710 10,000 12
  France * 610 12,000 2.7
  Japan * 440 3,500 1.2
  New Zealand * 400 11,000 5
  Kyrgyzstan * 400 6,200 200
  Austria * 350 8,800 3.8
  Georgia * 350 200 300
  Bangladesh * 280 3,000 5.9
  Mauritania * 200
  Bulgaria * 150 1,000 6.7
  Czech Republic * 150 15.0 1,400 4
  South Africa * 150 15 1,000 0.39
  Israel * 120 [12] 12 15,000 5.7
  Hungary * 120 [12] 35 20,000 0.84
  Lithuania * 120 700 3.7
  Tajikistan * 120 300 100
  Greece * 100 1,500 2
  Slovakia * 9.00 100 4
  Benin * 8.00
  Belize * 6.00 800 10
  Taiwan * 2.00 200 0.2
  Barbados 1.00 1,000 5
  Jordan * 1.00 [12] 1 100 9
  Morocco * 0.6.00 100 10
  Ethiopia * 0.4.00
 World 1,703,000.00 1,535,773 1,750,600 8,29,39,300 50.06

* indicates "Oil reserves in COUNTRY or TERRITORY" or "Energy in COUNTRY or TERRITORY" links.

See also

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References

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  1. ^ BP Statistical Review of World Energy, 2015
  2. ^ OPEC Statistical Bulletin, 2015.
  3. ^ World Factbook, US Central Intelligence Agency, 2015.
  4. ^ "U.S. Crude Oil plus Lease Condensate Proved Reserves". www.eia.gov. Retrieved 13 June 2021.
  5. ^ "International - U.S. Energy Information Administration (EIA)". www.eia.gov. Retrieved 5 October 2023.
  6. ^ Economou, Andreas; Fattouh, Bassam (7 May 2021). "OPEC at 60: the world with and without OPEC". OPEC Energy Review. 45 (1): 3–28. Bibcode:2021OEnRv..45....3E. doi:10.1111/opec.12205. ISSN 1753-0229.
  7. ^ "Statistical Review of World Energy" (PDF). www.bp.com. 8 June 2016. Retrieved 23 October 2023.
  8. ^ "International - U.S. Energy Information Administration (EIA)". www.eia.gov. Retrieved 5 October 2023.
  9. ^ "OPEC : Iran". www.opec.org. Retrieved 13 June 2021.
  10. ^ Oil Resources, Natural Resources Canada, 16 Feb. 2,016.
  11. ^ "U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2022".April 29, 2024
  12. ^ a b c d e f g h i j k l m n o p q Reolon, Dario; Di Maggio, Federica; Moriggi, Sara; Galli, Giuseppe; Pirrone, Marco (24 June 2020). "Unlocking Data Analytics for the Automatic Evaluation of Cement Bond Scenarios". SPWLA 61st Annual Online Symposium Transactions. Society of Petrophysicists and Well Log Analysts. doi:10.30632/spwla-5060. S2CID 225718759.
  13. ^ Reolon, Dario; Di Maggio, Federica; Moriggi, Sara; Galli, Giuseppe; Pirrone, Marco (24 June 2020). "Unlocking Data Analytics for the Automatic Evaluation of Cement Bond Scenarios". SPWLA 61st Annual Online Symposium Transactions. Society of Petrophysicists and Well Log Analysts. doi:10.30632/spwla-5060. S2CID 225718759.
  14. ^ "Guyana scrambles to make the most of oil wealth". BBC News. 10 September 2023. Retrieved 3 December 2023.
  15. ^ "Namibia's offshore oil discoveries estimated at 11 bln barrels - NAMCOR". Reuters.
  16. ^ pedromedro (6 July 2011). "Namibia Sees 11 Billion Barrels In Offshore Oil Reserves". Eco (Atlantic) Oil & Gas Plc. Retrieved 21 December 2023.
  17. ^ OilNOW (5 August 2020). "Suriname's Block 58 could hold 6.5 billion barrels of oil – Morgan Stanley | OilNOW". Retrieved 26 September 2023.
  18. ^ www.pemex.com http://www.pemex.com/.../Reservas%2520de%2520Hidrocarburos%2520Archivos/. Retrieved 13 June 2021. {{cite web}}: Missing or empty |title= (help)
  19. ^ "Argentina's Oil Industry is Finally Bouncing Back".